Denison Mines initiated with an Outperformer at CIBC

CIBC initiated coverage of Denison Mines with an Outperformer rating and C$3.25 price target. The analyst views Denison as an attractive uranium developer, citing its “compelling economics,” near-term transition to the construction phase and limited financing risk. Denison’s “high-quality attributes, exploration potential, and uranium pure-play strategy, with near-production assets in a stable jurisdiction supportive of uranium mining,” the analyst tells investors in a research note.